PRESS RELEASE

AXA FINANCIAL WILL NOT INCREASE PRICE FOR MONY GROUP

Current Level Of Appraisal Demands Will Not Deter or Delay Closing

New York, NY – To put an end to speculation regarding various aspects of its pending acquisition of The MONY Group Inc. (NYSE: MNY), AXA Financial’s President and Chief Executive Officer, Christopher "Kip" Condron today stated:

"As we have said from the time that we announced this transaction, we believe our offer to shareholders of $31 per share is full and fair. We will not increase it. Moreover, we remain optimistic that MONY shareholders will approve the acquisition.

"In addition, we are committed to closing this acquisition immediately following the receipt of all regulatory approvals and the satisfaction of other closing conditions and notwithstanding the current level of appraisal rights demands. In that regard, we believe that the speculation among a number of analysts – that if the deal is not approved, the price of MONY's shares could well fall below $31 – should underscore to MONY shareholders that they would not be well served by opposing the deal or by pursuing an appraisal proceeding in the hopes of receiving a higher valuation."

About AXA Financial

AXA Financial, Inc., with approximately $472.2 billion in assets under management as of September 30, 2003, is one of the world’s premier financial services organizations through its strong brands: The Equitable Life Assurance Society of the U.S., AXA Advisors, LLC, Alliance Capital Management, L.P., Sanford C. Bernstein & Co., and its wholesale distribution company, AXA Distributors, LLC. AXA Financial is a member of the global AXA Group, a worldwide leader in financial protection and wealth management.